As Wal-Mart grew rapidly and became the largest company in the world, it also learned that fame and success comes with a price. In Wal-Mart’s case, that price was increased visibility and external pressure, from lawsuits to public criticism from union leaders and even some competitors. Wal-Mart remains a key staple for millions of consumers around the world, but the company also has matured and become a much more engaged and even outspoken corporate citizen.
Now, for the first time since Sam Walton’s autobiography in the early 1990s comes a true insider’s account of how Wal-Mart became the institution it is now, how it has continued to grow throughout all economic slowdowns, and most importantly, how they have been able to remain a truly family-oriented organization that cares for its associates and customers equally.
In The Wal-Mart Way: The Inside Story of the Success of the World’s Largest Company (Nelson Business, ISBN: 0-7852-6119-2), former Wal-Mart Vice-Chairman and Chief Operating Officer Don Soderquist offers his unique insight on the 12 main principles handed down by the late Walton patriarch that have led to his brainchild s seemingly unstoppable growth.
Using examples taken directly from his tenure working alongside of Walton, Soderquist looks to inspire leaders of all retail companies, from managers of local grocery stores to top executives at multi-national corporations. Mixing in some of the more unique aspects of Wal-Mart s business model with the more tried and true standards of corporate management, THE WAL*MART WAY is a guide that will become the instant standard for building a strong, successful organization, while maintaining high ethical standards.
Without becoming a simple history of Wal-Mart s success, Soderquist discusses the company s success by breaking down corporate growth into 12 sections:
- Growing Dreams
- Vision The Power to See What Others Don’t
- The Power of Culture
- People Make the Difference
- The Customer Is the Boss
- A Passion for Excellence
- The Execution Imperative
- Technology The Ultimate Change Agent
- Reinventing the Supply Chain
- Creating Supplier Relationships
- Never Stop Growing
- Good Neighbors
THE The Wal-Mart Way: The Inside Story of the Success of the World’s Largest Company examines all aspects of management and corporate growth, using highly readable and often entertaining prose from someone who, as he himself readily admits, is not a writer.
He had two simple goals in mind when he began the book. First, he wanted to share what he believes are Wal-Mart s key principles of success to anybody who can gain inspiration and insight to fuel the growth of all their endeavors. Second, he wanted to create a way to help all of Wal-Mart s 1.5 million associates past, present and future learn, celebrate, preserve and strengthen the unique culture of their company.
With the unending string of titles being produced that trash all aspects of Wal-Mart s business practices, THE WAL*MART WAY is the ONLY title published in the last decade to not only give a true inside view of what made them so successful in the first place, but to also contend that their model should be the blueprint that all retailers should follow.
About the Author :
Don Soderquist joined Wal-Mart Stores, Inc., in 1980 where he served as executive vice president, vice chairman and chief operating officer, and finally as senior vice president. Continuing Sam Walton s legacy, he became known as Wal-Mart s keeper of the culture. As COO, Soderquist led Wal-Mart during a period of exponential growth as it developed from the largest retailer in the world to the largest company in the world.
Soderquist received his B.A. degree in Business Administration from Wheaton College in Illinois, and was awarded honorary doctorates from Southwest Baptist University, John Brown University and Judson College. In 1996 he was inducted into the Retailing Hall of Fame, and in 1998, John Brown University created the Soderquist Center for Business Leadership and Ethics in his honor.
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Category: Book Reviews